Download e-book for iPad: A History of Macroeconomics from Keynes to Lucas and Beyond by Michel De Vroey

By Michel De Vroey

This publication retraces the heritage of macroeconomics from Keynes's basic thought to the current. significant to it's the distinction among a Keynesian period and a Lucasian - or dynamic stochastic normal equilibrium (DSGE) - period, each one governed via precise methodological criteria. within the Keynesian period, the booklet reports the subsequent theories: Keynesian macroeconomics, monetarism, disequilibrium macroeconomics (Patinkin, Leijongufvud and Clower), non-Walrasian equilibrium types, and first-generation new Keynesian versions. 3 levels are pointed out within the DSGE period: new classical macroeconomics (Lucas), RBC modelling, and second-generation new Keynesian modeling. The booklet additionally examines a number of chosen works geared toward featuring possible choices to Lucasian macroeconomics. whereas now not eschewing analytical content material, Michel De Vroey specializes in major exams, and the versions studied are offered in a pedagogical and bright but serious way.

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A History of Macroeconomics from Keynes to Lucas and Beyond by Michel De Vroey

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